Existence of financial equilibria with restricted participation (Q1049223)
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| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Existence of financial equilibria with restricted participation |
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Existence of financial equilibria with restricted participation (English)
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8 January 2010
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A two-date stochastic model of a financial exchange economy with finitely many agents is considered. The agents have non-ordered preferences and linear portfolio constraints. There is a market for physical commodities at any state, and financial transfers across time and across states are allowed by means of finitely many nominal assets or numéraire assets. A general existence result of equilibria is proved.
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restricted participation
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portfolio constraints
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financial exchange economy
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equilibrium
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arbitrage free asset prices
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